BNY Mellon strikes balance on currency lawsuit talks

Chief executive Hassell tells analysts company has done nothing wrong but may be open to settling disputes out-of-court

By

The Wall Street Journal

November 15, 2011 5:03 p.m. GMT

Bank of New York Mellon's chief executive said the company is willing to negotiate "reasonable" settlements of lawsuits that accuse it of improperly charging clients in currency trades.

Gerald Hassell, the top executive at BNY Mellon since August, said Monday at an investor day presentation that the lawsuits "may take some time to resolve". The New York company won't be "coerced into paying huge sums for no...